June's U.S. foreclosures hit six-year low; Alabama's rate falls, too

June's U.S. foreclosures fell to the lowest monthly total in more than six years. (AP Photo/David Zalubowski)

There were foreclosure filings on 127,790 properties across
the U.S. in June, a 35 percent decline from a year ago and the lowest monthly
total since December 2006, mortgage researcher RealtyTrac said today.

For the year's first half, filings totaled 801,359, down 23
percent from the first six months of 2012.

Foreclosure starts also decreased in June in 38 states, but
RealtyTrac also noted a jump in judicial foreclosure auctions, up 34 percent
from a year ago.

"Halfway through 2013 it is becoming increasingly
evident that while foreclosures are no longer a problem nationally they
continue to be a thorn in the side of several state and local markets,
particularly where a backlog of delayed distress has built up thanks to a
lengthy foreclosure process," Daren Blomquist, vice president at
RealtyTrac, said in a prepared statement.

The increase in auctions shows the delayed cases are now
being moved more quickly through the pipeline, he added.

In Alabama, there were foreclosure filings on 7,707
properties from January to June, or one in every 280 housing units, RealtyTrac
said. That's a 13 percent decline from the year-ago period and ranks the state
rate at No. 32.